APA Q1 Adj $0.78 Misses $0.94 Estimate, Sales $1.90B Miss $1.93B Estimate
Portfolio Pulse from Benzinga Newsdesk
APA (NASDAQ:APA) reported Q1 earnings of $0.78 per share, missing the consensus estimate of $0.94 by 17.02%, and a 34.45% decrease from last year's $1.19. Sales were $1.90B, missing the $1.93B estimate by 1.40%, and down 6.26% from $2.03B last year.
May 01, 2024 | 8:08 pm
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NEGATIVE IMPACT
APA reported lower than expected Q1 earnings and sales, missing analyst estimates and showing a decrease from the previous year.
APA's miss on both earnings and sales estimates, coupled with a significant decrease from the previous year's figures, is likely to negatively impact investor sentiment and the stock price in the short term. The earnings miss by 17.02% and the sales miss, although slight, indicate potential underlying issues that could concern investors. The year-over-year decrease in earnings and sales further compounds these concerns, making a negative short-term price movement more likely.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100